`The Union of Employers in Bulgaria /UEB/ suggested a new insurance schema, straightening the third of the three pillars - National Social Security Institute /NSSI/, mandatory supplementary insurance,and voluntary insurance,` UEB Chair Vasil Vasilev said. Under the new schema people who resign after 37 years of work will receive BGN 50 from NSSI and BGN 300 from the pension fund, at a 5% interest rate. Under the current schema, people earning an average monthly income of BGN 250 pay BGN 80 for insurance and receive BGN 90 pension after 37 years. `The state does not take good care of our money,` Vasilev pointed out and suggested that the mandatory insurance should be calculated on the minimum working wage. `Banks and pension funds should compete for our money,` Vasilev said and explained that that would help the development of the capital markets. The budget of the NSSI is BGN 1.27 BLN. If the proposal of the Union of Employers is accepted, the contributions on the minimum wages would bring in only BGN 450 M for six months. The state should fill in the gap of BGN 750 M with receipts from privatization, concessions and fees.